OpenAI, Anthropic, and SpaceX valuations could dwarf 45 years of IPOs

If you're wondering how huge the AI segment's march toward the public markets is, look no further than the valuations of the biggest companies in the space.

Take OpenAI (OPAI.PVT), which is raising cash at a $1.2 trillion valuation, according to The Wall Street Journal, throw in Anthropic's (ANTH.PVT) potential $2 trillion value when it goes public, and SpaceX's (SPCX) current $2 trillion market cap, and you're sitting at just north of $5 trillion, The Financial Times reported.

That is more than the value of all of the initial public offerings from 1980 through 2025, The FT says, citing data from University of Florida Warrington College of Business emeritus professor Jay Ritter.

Morning Joe economic analyst and New York Times Op-Ed contributing writer Steve Rattner illustrated the valuations in a chart he posted on X. He also notes that the historical numbers aren't adjusted for inflation.

Anthropic and OpenAI are two of the largest and most advanced AI labs on the planet, thanks to their Claude and GPT model families.

Dario Amodei-led Anthropic is expected to go public sometime next month, though that could also slip to later in the fall. OpenAI, which was also expected to go public this year, is now targeting an IPO in 2027.